ArcBest Co. (NASDAQ:ARCB – Get Free Report) CFO John Matthew Beasley purchased 700 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now owns 8,142 shares of the company’s stock, valued at approximately $609,754.38. This represents a 9.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
ArcBest Stock Performance
NASDAQ:ARCB opened at $73.35 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. ArcBest Co. has a 12-month low of $70.96 and a 12-month high of $153.61. The stock has a 50-day moving average price of $90.03 and a 200 day moving average price of $99.98. The stock has a market capitalization of $1.70 billion, a P/E ratio of 10.01, a P/E/G ratio of 1.70 and a beta of 1.54.
ArcBest (NASDAQ:ARCB – Get Free Report) last released its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the previous year, the firm posted $2.47 earnings per share. Equities research analysts forecast that ArcBest Co. will post 7 EPS for the current fiscal year.
ArcBest Dividend Announcement
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Citigroup lowered their target price on ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Stephens reissued an “overweight” rating and issued a $116.00 target price on shares of ArcBest in a report on Tuesday, March 11th. Bank of America lowered their target price on ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Finally, Truist Financial started coverage on ArcBest in a report on Thursday. They issued a “buy” rating and a $93.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $108.33.
Read Our Latest Stock Report on ARCB
Hedge Funds Weigh In On ArcBest
Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after buying an additional 177 shares in the last quarter. R Squared Ltd purchased a new position in ArcBest during the 4th quarter valued at approximately $40,000. Quest Partners LLC lifted its stake in shares of ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 206 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 453 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of ArcBest by 17.9% in the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.
ArcBest Company Profile
ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.
See Also
- Five stocks we like better than ArcBest
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Ignore Reports, Apple Won’t Install Starlink with iOS 18.3
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- Mastering Discipline: Overcoming Emotional Challenges In Trading
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
Receive News & Ratings for ArcBest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcBest and related companies with MarketBeat.com's FREE daily email newsletter.